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Here are the top stories to start your day.
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⭐ India to be an EV powerhouse by 2025?
According to the Union Road Transport Minister, Nitin Gadkari, India will be the world's number one electric car manufacturer by 2025. He also said that India’s auto sector “will be exporting EVs to the entire world”.
⭐ Shree Cement to set up new plant
Shares of Shree Cement (+2.0%) closed in the green after the company announced it is setting up a new cement plant in Guntur, Andhra Pradesh. The plant will have a clinker capacity of 1.5 million ton per annum (MTPA) and cement capacity of 3.0 MTPA. The total cost for the plant is ₹2,500 crore, which will be financed through internal accruals and debt. At present, the company’s cement capacity stands at 46.40 MTPA.
⭐ Food inflation likely to rise
India's food inflation is likely to cross 9% in the second half of the year, according to a report by Nomura. This is compared to food inflation of just below 8% in May. The Finance Ministry, in its monthly economic report said that food prices have risen due to the heat wave. However, it added that inflation may come down on the timely arrival of monsoon.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.2% |
| Nikkei 225 (Japan) | ▲ 1.7% |
| Hang Seng (Hong Kong) | ▲ 1.0% |
| SSE Composite (China) | ▲ 0.03% |
| Dow Jones (US) (June 18) | ▼ 0.1% |
| NYSE (US) (June 17) | ▼ 0.4% |
| Nasdaq (US) (June 17) | ▲ 1.4% |
| S&P 500 (US) (June 18) | ▲ 0.2% |
Fact of the day
Telegram has crossed over 700 million monthly active users and is also rolling out a paid version with additional features.
Source: TechCrunch
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.